Finding and Managing Reliable POps Data

Biz Ops

Jun 16

In the field of People Ops, the ability to make informed, strategic decisions is a key driver of success. This is where the power of data comes into play. Data-driven decision-making, leverages reliable data to guide strategies on hiring, retention, employee engagement and more. In this blog post, we'll delve into the significance of data in People Ops, the impact of reliable data on decision-making, and provide a roadmap for POps professionals looking to harness the power of data to drive their people operations forward.

Identifying Data Needs in HR/People Ops

Data requirements in People Ops can span across all stages of the employee lifecycle. A valuable thing to keep in mind before sourcing data is to ensure that the data you seek out aligns with overarching company goals. This ensures that the data being gathered is relevant and actionable in driving strategic decision-making, and that it supports the organization's vision and objectives. By mapping data requirements to company goals from the start, organizations can avoid collecting unnecessary or outdated data that provides little valuable insight, and instead build a focused data strategy that generates meaningful metrics and analytics to fuel goal achievement.

Here are some key data points that POps professionals often focus on:

Employee demographics: This data can include age, gender, ethnicity, experience level, and more. It's used to ensure diversity, equity, inclusion and belonging (DEIB) within the company and to tailor employee benefits and programs.
Recruitment and hiring metrics: These can include identifying when it’s time to hire, the cost per hire, offer acceptance rate, and more. They help People Ops teams assess the effectiveness of their recruitment strategies and make necessary adjustments.
Employee performance and productivity data: This can include data from performance reviews, feedback, productivity metrics, and more. It can be used to identify high performers, identify training needs, and improve workforce productivity.
Employee engagement and satisfaction data: Including data from employee surveys, exit interviews, and more. This data can help gauge employee morale, improve the employee experience, and reduce turnover.
Compensation and benefits data: Including data on salaries, bonuses, benefits, and more. This helps ensure fair and competitive compensation, attract and retain top talent, and manage the company's compensation budget effectively.

Sources of Reputable HR Data

When it comes to People Ops data, the importance of finding reputable sources cannot be overstated. Reliable sources ensure the accuracy and credibility of the data, which is crucial for making informed decisions that can significantly impact an organization's workforce and overall performance. Let’s take a look at some of the options we have available:

Internal data: Don't forget about the valuable data within your own organization. Analyze your company's HR metrics, employee surveys, and performance data to gain insights specific to your workforce.
HR technology platforms: Utilize data and insights from reputable HR technology platforms, such as Lattice, Rippling, Workday or ADP. These platforms often have built-in analytics and benchmarking tools based on large datasets.
Networking and conferences: Attend HR conferences, webinars, and networking events to connect with other professionals and gain insights from their experiences and research.
Professional associations: Join and engage with professional associations such as the Society for Human Resource Management (SHRM) or the International Association for Human Resource Information Management (IHRIM). These organizations often provide research, surveys, and whitepapers with credible data.
Academic journals: Refer to peer-reviewed academic journals focusing on human resources, organizational behavior, and workforce management. These journals publish research findings and data from reputable sources.
Industry reports: Consult reports from respected consulting firms, such as Deloitte, McKinsey, or Gartner, which often conduct in-depth research and surveys on various aspects of people operations and HR trends.
Government databases: Access official government websites like the Bureau of Labor Statistics (BLS), the Census Bureau, and the Equal Employment Opportunity Commission (EEOC) for reliable data on workforce demographics, employment trends, and labor laws.

Data Collection and Management Best Practices

It's vital to handle data with care during collection and management. This ensures that the data can be relied upon for decision-making, while also protecting the organization from potential risks associated with data breaches or non-compliance with data protection regulations. Here are some consideration to make around data management practices in your organization:

Ensuring data privacy and compliance: This involves adhering to relevant data protection regulations (e.g., GDPR, CCPA) to ensure employee information is handled legally and ethically. According to a survey by PwC, 52% of companies in the U.S. are GDPR-compliant, underscoring the importance of data privacy in business operations.
Establishing data governance policies: Data governance policies provide a framework for data management strategy, ensuring data is used consistently and appropriately.
Data cleansing and quality assurance: This practice involves removing or correcting data that is incorrect, incomplete, or irrelevant. According to a study by Harvard Business Review, businesses in the U.S. lose $3.1 trillion annually due to poor data quality, highlighting the need for regular data cleansing and quality assurance.
Data storage and security: Secure data storage solutions protect data from unauthorized access and cyber threats. A [report by Enterprise AI](https://www.virtasant.com/ai-today/cybercrime-costs-skyrocket-to-10-5-trillion-ai-in-cybersecurity-fights-back#:~:text=May 22%2C 2024-,Cybercrime Costs Skyrocket to %2410.5 Trillion%3A AI in Cybersecurity Fights,an ever-expanding attack surface.) predicts that cybercrime will cost the world $10.5 trillion annually by 2025, making data security a critical concern for organizations.

Using Data to Drive HR Decisions and Actions

Data-driven decision-making in People Ops can significantly enhance recruitment strategies and employee development programs. By analyzing trends and patterns in HR data, such as employee performance metrics, satisfaction surveys, and hiring outcomes, organizations can identify key areas for improvement and make informed decisions about where to allocate resources for maximum impact. Data-driven insights can also inform workforce planning, helping organizations to anticipate future talent needs, identify potential skill gaps, and develop targeted training and development initiatives to build a high-performing and agile workforce.

Conclusion:

Data-driven People Ops strategies have the opportunity to enhance decision-making, improve employee experiences, and drive organizational success. By adopting a data-driven mindset and embracing analytics, People Ops professionals can unlock valuable insights, anticipate future talent needs, and tailor strategies to meet organizational goals. We hope this blog has equipped you with the information you need to start collecting and analyzing reputable HR data today to drive better people decisions and gain a competitive edge in the ever-evolving world of work.

As always, thank you for joining us as we explore this topic and remember to ⚖️ Do What You Say You’ll Do ⚖️.